[cassianoleal]

So does the Euro, which is used in his country, and so was the Dutch Guild, the one that came before. So does any other currency in use in the world.

> Fiat money does not have intrinsic value and does not have use value. It has value only because a government maintains its value, or because parties engaging in exchange agree on its value.

https://en.wikipedia.org/wiki/Fiat_money

[toshk]

Being backed by a government, or multiple governments, with an army and lots of financial tools is a very real thing.

[dcolkitt]

I agree that being backed by a government carries weight. Largely because tax liabilities are denominated in the home currency, which creates a persistent demand for the currency.

But it's silly when people bring up the army or military when it comes to the USD or other fiat currencies. As if the only thing keeping the dollar valuable are carrier strike groups threatening people around the world. If military spending was cut in half, I guarantee you the dollar would be just as valuable.

China, Russia and North Korea all have formidable militaries. Their currencies carry very little weight outside their borders. In contrast the Swiss Franc, Swedish Krona and New Zealand Dollar are all considered ultra-hard currencies despite those countries having little to no ability to project force around the globe.

[cassianoleal]

Why are you bringing this up? Sounds like a straw man to me.

[Growling_owl]

What if those who produce, use and mantain those tanks, ships, planes and rifles suddenly lose trust in the mean of compensation which the government offers them in exchange of their services?

Nobody ever thinks about this, but government and all the infrastructure it owns are embedded in society

The general view is that Bitcoin takes hold among the population and then there is a fight between the population and the government....quite the contrary, Bitcoin simply takes over the government at an equal or slighly inferior rate compared to the general population.

See how many people in the Capitol are being bitten by the bitcoin bug. For every critic you'll find somebody who is willing to speak in favor of it.

[MomoXenosaga]

Yeah let's swap a currency backed by 27 rich countries with something created by a bunch of sociopath tech douchebags.

[cassianoleal]

Yeah let's pretend the other person said something that we want to argue about and then respond to that pretence.